South Korea’s annual inflation rate was 4.2 percent in November, official figures showed Thursday, back above the central bank’s target range despite a revision of the consumer price index.
The figure announced by Statistics Korea compares with a revised 3.6 percent increase in October. But it was below the median forecast for a 4.5 percent rise in a Dow Jones Newswires poll of seven economists.
Month-on-month, the index rose by 0.1 percent in November.
The increase – blamed on food prices – came despite a recalibration of the price index that cut the inflation year-to-date figure by 40 basis points.
The Bank of Korea has set a 2-4 percent target range for inflation this year.